Question

Which of the following is true of brand loyalty?

It refers to the degree to which consumers can identify a brand under a variety of circumstances.
It refers to consumers' steadfast allegiances to a brand, displayed through repeat purchases.
Consumers who exhibit brand loyalty weaken the pricing power of a brand.
Consumers who exhibit brand loyalty are typically more price sensitive than other consumers.
It is a consumer's perception of a brand that develops independent of consumer satisfaction.

Answer 1

Brand loyalty refers to consumers' steadfast allegiances to a brand, displayed through repeat purchases. Contrary to the statement given, consumers who exhibit brand loyalty are typically less price sensitive than other consumers.

Step-by-step explanation:

Brand loyalty refers to consumers' steadfast allegiances to a brand, displayed through repeat purchases. When consumers exhibit brand loyalty, it strengthens the pricing power of a brand because they are willing to pay higher prices for products or services from that brand. Contrary to the statement given, consumers who exhibit brand loyalty are typically less price sensitive than other consumers.